Free Republic

Is the hammer coming down on San Diego City Hall? A flurry of federal grand jury activity suggests it will be, with more than a half-dozen demands since New Year's Day for documents on pension-system underfunding, labor contracts, reports to Wall Street credit-rating agencies and e-mail messages of a former top aide to Mayor Dick Murphy. The FBI and U.S. Attorney's Office are investigating possible financial crimes related to the city's underfunding of the pension system, and errors and omissions in city financial statements. Both agencies also are conducting a separate public-corruption probe. These criminal investigations aren't the only dark...

Battles raging in France, Germany and elsewhere over social security reform and the debate on social rights in the EU's draft constitution will decide the future of the European currency The creation of the European Monetary Union (EMU) was an unprecedented achievement, promising deeper and larger markets. The stimulus to trade and investment is manifest. But will the euro last? Two current developments will shape the answer. The first is the outcome of battles raging in France, Germany, and elsewhere over social security reform. The second is the debate over the inclusion of "social rights" in the EU's draft constitution....